Many potential homebuyers immediately dismiss the idea of building a home because they believe it’s completely out of their budget. The idea of building a house from scratch seems very costly, and most people assume they can’t afford it. However, with some careful planning, it’s not only affordable, it can actually be less expensive than buying a home that requires some renovations or repairs. If you have your dream home in mind, why not build it? By choosing the right building and following some of these budget-saving tips, you’ll be able to watch your dream home be built before your eyes.
1. Size Matters—Build What You Need
If you have a small family and don’t plan on expanding, do you really need a home that’s over 2,000 square feet? Probably not. Many people who look at building a house approach the project with the idea that bigger is always better, but that’s not necessarily the case. If you don’t need a large home, why build one? Consider how much space you truly need and let the blueprints reflect that. Don’t pay for rooms you will hardly use.
2. Keep it Simple
Another good way of eliminating excess costs from the budget is to keep the design of your home as simple as possible. You don’t need to add turrets or unnecessary curves and oddly shaped rooms to the house. While you may not want your home to look plain or boring, that doesn’t mean you need to make it structurally complex. Keep the design simple and clear, and you’ll keep your budget under control. If you do want something more complicated, make certain it brings more benefit to the home than simply looking different.
3. Keep the Details Simple, Too
Even if you have a simple structure, you may be tempted to go overboard with little details to add visual distinction to your home, but be careful. These little details can very quickly add up. Stained glass, crown molding, excessive brick details, and other unnecessary features may make your home look different, but they can also very quickly eat up your budget.
4. Have an Open Concept Floor Plan
Open concept floor plans are very popular, plus they make financial sense as well. With fewer walls to build and doors to install, these floor plans are more affordable. Having your spaces visually connected makes the area feel larger, too, so you don’t need to build a large home to get the feel of a large space. It keeps the design simple while giving you a wide open area that’s perfect for entertaining.
5. Look at the Materials
There are a number of different materials you can use in building a home, but some are much more expensive than others. If you want all granite countertops in your kitchen, real wood flooring, and other luxury materials, it’s going to cost you. Sometimes, sticking to the cheaper yet very durable materials for flooring, counters, and other parts of your home is necessary. Also, remember you can compromise in some areas. If those granite counters are truly a must, be ready to go with laminate floors over hardwood.
6. Plan Out Your Expensive Must-Haves
The idea of compromise leads into this tip: plan out what you absolutely must have and determine how those items are going to affect your budget. If you want to splurge on something, make sure you can cut back in another area in order to avoid going over-budget. Consider who you’re trying to impress, too. If you plan on having people over often, you may want to have the more public areas of your home look nicer. If you don’t care about that and simply want to be incredibly comfortable, you may want to splurge in the living room and bedroom. It all depends on what you really want.
7. Don’t Get Caught up in What Design Shows Do
It’s easy to get mesmerized by the houses on home renovation shows, but these builders and renovation experts have the budget of a TV show behind them. You don’t, so while you can certainly get inspiration from these shows, also remember to keep it realistic. Anything custom is going to be very costly, but you may be able to find a cheaper alternative that looks similar to what they created or bought.
8. Shop Around
You have options when it comes to hardware, light fixtures, and other items. Be sure to shop around, and don’t ignore discount warehouses or online sellers. You may be able to find exactly what you want for a fraction of the cost if you do a little comparison shopping instead of buying from the first place you look. Avoid expensive home showrooms, especially if you’re on a tight budget. Keep in mind that products installed on shows are often given at a promotional rate for advertising and does not reflect the actual retail cost.
9. Consider Parking in the Basement
This may not be an option for everyone since it depends on where you’re located and how easy it is to install a basement you can drive into, but it can save a good amount of money. By combining the basement and the garage, you’re able to have a place to park your car and store some items. Also really think about any garage that’s larger than what you need for two vehicles. Do you really need that space?
10. Make Your Own Decisions
While your friends and family may want to give you advice on where to get items or how to build your home, their suggestions may not fit with your budget or your vision. Remember that your final home is yours, as are the bills that go with it. Buy what fits with your budget and make your own choices. While you may appreciate the advice you get, and some of it may be great, don’t be afraid to do your own research and make your own decisions.
Are you thinking about building a home? The experts at Belman Homes can help you create the perfect house while sticking to your budget. Contact a representative today to learn more.